PSX · TEXTILE COMPOSITE · 30 Min
REDCO Head & Shoulders breakdown
Redco Textiles Limited · 02 Nov 2026 · 10:00 PKT
▼ Bearish Breakout Pattern breakout With the trend
Closed at 25.00 on the breakout. Target 21.72, invalidation 28.00.
Trade plan
● Active- Close
- 25.00
- ▼ 6.37%
- Target
- 21.72
- -13.1%
- Invalidation
- 28.00
- +12.0%
RiskReward
- Reward : risk
- 1.1 : 1
- ATR
- 0.72
- Price now
- 25.50 +2.0%
Outcome measured on the 30 min bars after the signal: target or invalidation, whichever is touched first; a bar touching both counts as invalidated.
- Target
- Invalidation
- Pattern lines
- Fair value gap (bull / bear)
- Order block
- Strong / weak high and low
- BOS · CHoCHstructure breaks
SMC Structure · Order Blocks · FVG · Pattern Detector 30 Min candles · click to enlarge
The breakdown
REDCO broke below its head & shoulders on the 30-minute close at 25.00.
Projected target 21.72 (-13.1%). The pattern is invalidated beyond 28.00 (+12.0%), a reward-to-risk of about 1.1 : 1.
Structure: bearish external, bullish internal (strong high 40.40). Nearest demand OB 21.01 - 21.02, supply OB 35.95 - 36.94.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 25.00.
- 2 The target, 21.72 (-13.1%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 28.00 (+12.0%), cancels the setup.
- 4 Reward : risk is 1.1 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: with the trend.
Pattern guide
About the head and shoulders
A head and shoulders is a topping pattern: three peaks with the middle one highest, resting on a "neckline" whose break often ends an uptrend.
- Confirmation
- A close below the neckline.
- Target
- The height from the head to the neckline, projected down from the break.
- Fails if
- A close back above the right shoulder or the neckline.